a damning preliminary report about a 737 max jet raises fresh questions about safety at boeing. ford accelerates into 2024 with a rosy outlook and a cash reward for investors. shares in snap plunge by 30% in after—hours trade as the social media firms revenues disappoint. and the new head at the cbi talks to the bbc and says he believes companies who left the business group will return. hello if you have just hello if you havejustjoined us. i hello if you have “ust “oined us. . , hello if you have “ust “oined we start with aviation and the crisis at boeing, because a preliminary report by

the us national transportation safety board has revealed new details about the door plug that blew off an alaska air jet last month. the 737 max jet left a boeing factory missing four bolts designed to secure the door panel. our north america business correspondent erin delmore has more. this investigation focuses on the bolts used to keep the door in place on the plane. that door is not supposed to open. but it did open onjanuary five and flew off the alaska airjet just after takeoff in portland. now, investigations from the national transportation safety board said the bolts were missing before january five and it appears the alaska airport plane left boeing's factory without the bolts. they were removed to make a repair but it appears not all the bolts were replaced. this is a most diesel we have about what went wrong

and it puts the blame on boeing. —— both details. a supplierfound new boeing. —— both details. a supplier found new problems with holes drilled on 737 max plains. the companies that it would go back to work 50 planes, furthering delivery delays. the head of the federal aviation administration told congress the agency will have more boots on the ground to monitor production and manufacturing at boeing. live now to craig erlam, senior market analyst, oanda. this is another blow to boeing as it tries to rebuild its reputation. it really is. when you are talking about somebody like boeing, safety is paramount and therefore the trust that people put within the flight itself inaudible.— put within the flight itself inaudible. ., , ., .,, inaudible. clearly we have lost our connection _ inaudible. clearly we have lost our connection with _ inaudible. clearly we have lost

our connection with craig. - inaudible. clearly we have lost our connection with craig. we i our connection with craig. we will hope to reconnect with him in a few minutes time but in the meantime let's move on and we will discuss boeing in more detail later. from planes to automobiles. shares in ford jumped on its latest earnings news. the car giant says it expects pre—tax earnings between $10 billion and $12 billion this year — that ahead of analysts. also it is returning more cash to shareholders. despite its higher labour costs after a strike by unionised workers secured higher wages. ford says its costs should remain flat in 202a. let's unpack the numbers with david bailey, professor of business economics at the birmingham business school. good morning to you, david. what do you make of the numbers for ford. obviously the shares are up 6% in after—hours trade so wall street seems to be happy. it

so wall street seems to be ha . _ , ., so wall street seems to be happy. it beat expectation both in terms of _ happy. it beat expectation both in terms of the _ happy. it beat expectation both in terms of the 2023 _ happy. it beat expectation both in terms of the 2023 figures. i in terms of the 2023 figures. analysts were saying a0 and they can mean higher. they have done very well. if you break it down, what is interesting is how on the one hand the legacy business in combustion engine and drugs are doing extremely well but the electric mobility part of it, the ev side of it, is doing very badly so forward are actually delaying further investment into electric vehicles.— investment into electric vehicles. , , ., ., vehicles. why is it not doing well on the _ vehicles. why is it not doing well on the ev _ vehicles. why is it not doing well on the ev side - vehicles. why is it not doing well on the ev side of - vehicles. why is it not doing | well on the ev side of things which it seems is where everyone is headed and as you say they combustion vehicle unit is bankrolling the ev side? , . , side? very much so. it is moving _ side? very much so. it is moving in _ side? very much so. it is moving in the _ side? very much so. it is moving in the sense - side? very much so. it is moving in the sense it i side? very much so. it is moving in the sense it is| moving in the sense it is coming, that would be the future, but very slowly for

them, and in particular the high up front cost. effectively what they're doing is delaying something like $12 billion of investment in producing ev and research going forward and they are hoping this skunk works, and operations they have set up outside of formal ford structures will come up with a low—cost vehicle going forward and they are also hoping that better battery chemistry will come along in the future and make these more attractive because but they are essentially working a tight rope between the internal combustion business making big money and the need to transition but at the moment those electric vehicles losing lots of money for them. we heard from _ lots of money for them. we heard from ford _ lots of money for them. we heard from ford after the bell in the us, from to go to the day before etc etc, how does ford sit compared to its arch rivals? , , , rivals? interesting results from general _ rivals? interesting results from general motors - rivals? interesting results from general motors as l rivals? interesting results i from general motors as well which were very positive. both

gm and ford coming up with very good results, beating expectations. both forward and to go to a similar in the sense they were slow to get into electric vehicles but they now have big capability when it comes to hybrids. because of high costs, the short to medium cost, ford and toyota are pretty well placed if you could see more of a hybrid future. thank you, david, good to get your take on those numbers. now lets move on to the social media platform snap. its shares plunged in after hours trade by some 30%. it missed wall street estimates for quarterly revenues as it continues to struggle with competition from much larger rivals like meta and alphabet. the disappointing earnings announcement comes a day after snap announced it

would lay off 10% of its staff. jasmine enberg is principle analyst at insider intelligence. hello to you. snap not doing so well. we knew the news was not going to be good but the reaction on markets was pretty brutal. , ., , ., brutal. investors were not ha- brutal. investors were not happy with _ brutal. investors were not happy with snap's - brutal. investors were not happy with snap's results| brutal. investors were not. happy with snap's results and it makes sense given meta's blowout earnings just last week but by standards, it was not that terrible of a quarter. qa came into was the higher end of its internal guidance and its four year growth was essentially flat which is not far off from what we were predicting on insider intelligence. but in this environment, it was not enough for investors and what we're seeing is snap cannot keep up with pace of the big tech titans and it will have to do a

lot more to show really robust growth within its business which is primarily advertising, in order to please investors going forward.— in order to please investors going forward. how is it going to do that _ going forward. how is it going to do that and _ going forward. how is it going to do that and fuel— going forward. how is it going to do that and fuel future - to do that and fuel future growth? it to do that and fuel future urowth? , to do that and fuel future growth?— to do that and fuel future . rowth? , ., ., to do that and fuel future urowth? , ., ., , growth? it is never going to be a facebook _ growth? it is never going to be a facebook or _ growth? it is never going to be a facebook or instagram, - growth? it is never going to be a facebook or instagram, it. a facebook or instagram, it does not have the scale of those pitfalls. we had a bit about investments and work it is doing. —— platforms. there is doing. —— platforms. there is a lot more profit it has to make and it has been very slow and investors are frustrated. we also had executives talk about their plans to try and grow in its court north american market where it makes most of its money. trying different strategies to continued to grow its user base. i do think this is a smart move and we will see if

it actually pays off but it needs to continue show user growth in order to grow its business. growth in order to grow its business-_ growth in order to grow its business. ,, business. our most snap young users? what — business. our most snap young users? what is _ business. our most snap young users? what is the _ business. our most snap young users? what is the age - business. our most snap young | users? what is the age bracket? who are they aiming for? yes, most of snap users is younger users. we talk about genesee and are using the platform on a regular basis. —— gen z it is primarily useful message and which is difficult to monetise. and this is coming at a time when it is repositioning itself as an anti social media company which makes sense given a lot of the regulation appear in the end the testimony in front of congress just last week but that might help change the

perception of snap but it will not too much for the business because the reality is it is still competing for the same dollars as the bigger rivals such as matter and of course tiktok. ., ~ such as matter and of course tiktok. . ~ , ., ., such as matter and of course tiktok. . ~ i. ., i. such as matter and of course tiktok. . ~ ., ., ~ tiktok. thank you for your take on that. let's _ tiktok. thank you for your take on that. let's return _ tiktok. thank you for your take on that. let's return to - tiktok. thank you for your take on that. let's return to the - on that. let's return to the top story being about boeing's initial findings from the us national transportation safety board which found... which released its findings which showed four key bolts that were meant to lock the unused door to the fuselage appeared to be missing and of course the stock ripped off the boeing 737 max shortly after takeoff. we could have been a catastrophic accident if this plan was at higher altitude. accident if this plan was at higheraltitude. let's accident if this plan was at higher altitude. let's discuss this with craig and i hope we can technically see this through this time. talk us through this time. talk us through the impact this has had on boeing and its reputation

and also the share price. this is a month since the accident took place. it is a month since the accident took place-— took place. it is very significant, - took place. it is very significant, the - took place. it is very significant, the fact l took place. it is very | significant, the fact it took place. it is very i significant, the fact it is took place. it is very - significant, the fact it is not the first incident as well obviously does not help, what happen in early 2018 and 2019 is quite significant in terms of the fact we're talking about the same aircraft but different issues and it calls into question the process the whole thing goes through and therefore the aviation authority needs to pay close attention to it if notjust for the simple safety alone. it has lost around 20% during that time, which we saw in 2018—19 as well. similar moves on that front. from the investors standpoint, one of the important things is what it does for trust in the company and demand for its aircraft as it is in steve competition with

our bus —— stiff competition. with air bus. it will be a difficult run for the share price. even though some uncertainty is removed with the findings it does call into question the reputation of the company. question the reputation of the com an . . ~' question the reputation of the coman . . ~ i. question the reputation of the coman . . ~ ., company. thank you for persevering _ company. thank you for persevering with - company. thank you for persevering with the i company. thank you for - persevering with the technical issues we have had. let's get some of the day's other news now. disney's espn, fox and warner brothers discovery are gearing up to launch a sports streaming service later this year. users will be able to subscribe via an app and also be given the option to bundle the new product with disney plus, hulu and max. no details were revealed about the name of the new product or pricing, but the service will have an independent management team. spotify has also announced fourth quarter results after the bell. the popular music streaming service reported fourth—quarter monthly active users and subscribers ahead of expectations as it

grew in all regions. spotify is among the growing number of tech companies who've laid off workers to boost profitability. it's also raised prices for its subscribers. another tech company announcing layoffs today is amazon. the tech giant is cutting hundreds ofjobs across two of its healthcare units — one medical and amazon pharmacy. the news comes as the tech giant continues to identify areas in the business where resources need to be redirected. earlier this month, amazon laid off employees across its prime video, mgm studios, buy with prime, twitch and audible units. actress gina carano has sued disney and lucasfilm after she was sacked in 2021 over a social media post in which she compared being a republican to being a jew during the holocaust. she's got the backing of elon musk who is funding the lawsuit for her and made

an open call on his platform x for others to join the suit. representatives for the defendants were not available for comment. when we come back, the new head at the cbi talks to the bbc and says he believes companies who left the business group will return. around the world and across the uk, this is bbc news. voice-over: bbc news - bringing you different stories from across the uk. african white backed vultures have declined by 90% in number in parts of africa so jake has been part of an effort to move them. and he is off. and so has his dad gray who has been running a bird park for nearly 30 years. running a bird park for nearly 30 years-— running a bird park for nearly 30 ears. , ., 30 years. they have something about them- — 30 years. they have something about them. they _ 30 years. they have something about them. they are - 30 years. they have something about them. they are unusual. about them. they are unusual but so many things that are

unusual are beautiful.- but so many things that are unusual are beautiful. they are art of a unusual are beautiful. they are part of a multinational- unusual are beautiful. they are part of a multinational effort i part of a multinational effort to move 133 from one part of south africa to another when they are safer. we south africa to another when they are safer.— they are safer. we felt it our du to they are safer. we felt it our duty to do — they are safer. we felt it our duty to do it _ they are safer. we felt it our duty to do it as _ they are safer. we felt it our duty to do it as we _ they are safer. we felt it our duty to do it as we loved - duty to do it as we loved not... anything we can help with, there is no hesitation. these birds are a part of the ecosystem, helping find animals to feed off. voice-over: for more - stories from across the uk, head to the bbc news website. you're live with bbc news. there's been a big deal announced in tech. cisco is teaming up with nvidia and says the two will power the ai revolution by offering purpose built infrastructure and ethernet solutions enabling any business to access the massive computing power needed to succeed in the ai era. i spoke tojonathan davidson from cisco and asked him how important this tie up is for cisco.

nvidia is synonymous with al as cisco is synonymous with networking. there is no ai without networking infrastructure so it is really important that we come with the best technology in the world when it comes to ethernet and connectivity and then adding the best ai technology and bringing those together and then simplifying it so that any enterprise is able to take advantage of that technology stack. we see those being an important piece, notjust the technology itself but how you simplify so we have these things called cisco vines, think of it as a blueprint for every enterprise to build it for their own use cases. your customers. _ for their own use cases. your customers, how _ for their own use cases. your customers, how able - for their own use cases. your customers, how able are - for their own use cases. your| customers, how able are they for their own use cases. your i customers, how able are they to take this on board? you have

partnered up obviously with nvidia, how simple they benefit from this investment on your part? from this investment on your art? , ., , , . part? they have been serviced at 9596 of _ part? they have been serviced at 9596 of infrastructure - part? they have been serviced at 9596 of infrastructure is - at 95% of infrastructure is going to be increasing due to ai workload so we know there is a huge demand but we also note that only 13% are prepared and ready with a current infrastructure to be able to handle the added workload. there is a lot of neat and this partnership gives us the capability to drive it rapidly into enterprise and we see this with all of our customers, they have been asking us for something like this for over a year now so we are excited to bring this to market and share without customers this week. when it comes to the competition, who were you watching and are most concerned about? . , watching and are most concerned about? ., , ., ., , about? there was another server that came _ about? there was another server that came out —

about? there was another server that came out that _ about? there was another server that came out that looks - about? there was another server that came out that looks at - about? there was another server that came out that looks at the l that came out that looks at the large enterprises and for those who have ai, 66% of the respondents are already using cisco and the next closest competitor was at 3%. we feel good about our position and about our ability to bring the technologies together. of course, we are always on the lookout to make sure we are at the cutting edge of innovation and technology but we are focused on outcomes for our customers and we let competitors do what they are going to do but our focus is always staying on what our customers need. for decades, canada has been a magnet for immigrants. but recently, fewer permanent residents are applying for canadian citizenship and some have even begun to leave the country. to help understand why the buzz has quietened a little, nikhil inamdar sent this report from punjab in north west india which sends thousands of migrants to canada each year. punjab, india's bread basket,

land of mustard fields, and also immigrant dreams. millions have left these villages over decades. in canada, the punjabis are amongst the largest diaspora but some are now returning home. balkar�*s family mortgaged land to send him to university in toronto. citizenship was his ultimate goal. but afterjust one year, he's come back and started an embroidery business. translation: from rent to groceries, i everything became more expensive. i had to work a0—50 hours every week to survive. the high inflation is making many students leave their studies in canada. the lure of the canadian dream is fading a little and that's palpable on this street in the town of vadinga, where every day, thousands of young people come and meet immigration agents and make

plans to leave the country. last year, though, the number of indian students applying for canadian universities dropped sharply. protests over a lack of affordable housing went viral last year. in response, the trudeau government announced international students must have double the amount of money to cover living expenses when they come to canada. a temporary two—year cap on new international student permits. in addition, the government has introduced a cap on how many student visas are issued every year to help address the housing shortage. canada stopped building housing in large scale for about 30 years. and now, that's come back to bite us as the population starts to grow. but there are deeper reasons for a waning canadian dream. for some, like karan, who've achieved career and financial success, it was the allure of a comfortable rural life that inspired his return to india

after 15 years. he's now started an online consultancy to help others come back to their roots. i started this almost 1.5 months ago, and i get 2—3 calls every day. most of the calls are from canada — people who want to know what kind ofjob opportunities or what is available in punjab. india is growing and people can see that. for decades, immigrants have fuelled canada's economic growth. india is still one of its largest sources of migrants. while the numbers of those leaving canada are still small, they do paint a more complex picture of the opportunities abroad and those at home. the new president of the cbi

has said the uk needs the lobby group and many of the members who left it following allegations of rape and sexual assault at the organisation, were returning. our business editor, simonjack spoke to rupert soames, and asked him about the recent financial settlement reached with former cbi director general tony danker, who was sacked last year following separate complaints about his behaviour and asked him if that meant he shouldn't have been dismissed. we do not want to say anything more because i think it is inappropriate. we have agreed with him not to say and do more than that and i think we should leave it there. is than that and i think we should leave it there.— leave it there. is it going to be satisfying _ leave it there. is it going to be satisfying for _ leave it there. is it going to be satisfying for some - leave it there. is it going to be satisfying for some of. leave it there. is it going to l be satisfying for some of the victims. admittedly he was not here for most of it but there was a culture and they were victims of that. are they going to be satisfied with this assignment? it to be satisfied with this assignment? to be satisfied with this assianment? . , , . assignment? it happened that way before — assignment? it happened that way before my _ assignment? it happened that way before my time _ assignment? it happened that way before my time and - assignment? it happened that way before my time and i - assignment? it happened that| way before my time and i don't know how they are going to feel about this. i only know what we

have agreed with tony, which is following his dismissal, we have reached this settlement with him and that's it. fin have reached this settlement with him and that's it. on the culture side, _ with him and that's it. on the culture side, just _ with him and that's it. on the culture side, just lingering i culture side, just lingering that for a moment, the voice of business would seem to have falling short of standards it promoted. what evidence have you got or will you need to know whether that overhaul here has worked?— has worked? culture change is something _ has worked? culture change is something i — has worked? culture change is something i have _ has worked? culture change is something i have done - has worked? culture change is something i have done a - has worked? culture change is something i have done a lot i has worked? culture change is something i have done a lot of and one of the few things in life i know, buying 55,000 people we had a huge culture change to go through. i know what it looks like and how it works. , . . . what it looks like and how it works. ., ., , works. the scandal sold dozens of big names — works. the scandal sold dozens of big names leave. _ works. the scandal sold dozens of big names leave. of - works. the scandal sold dozens of big names leave. of the - of big names leave. of the roughly 100 big direct members who left, or a pause, how many have come back?— have come back? about 270 -aused have come back? about 270 paused and _ have come back? about 270 paused and said, _ have come back? about 270 paused and said, we - have come back? about 270

paused and said, we do - have come back? about 270 paused and said, we do not| have come back? about 270 - paused and said, we do not want to engage at the moment. and about 80% have now an paused. we are pursuing about 150 members who either are still on pause or who resigned and tried to persuade them to come back. people find life without us, that there is something missing and everybody recognises that the uk needs a body that does the uk needs a body that does the job that the cbi does. the the 'ob that the cbi does. the cbi the job that the cbi does. the cbi relationship _ the job that the cbi does. the cbi relationship with the current government has been a pretty fractious one. we had the famous one, borisjohnson saint f business, and the hampton court summit for business. where are we currently? it business. where are we currently?— business. where are we currently? business. where are we currentl ? ., ., currently? if you go back a few ears, currently? if you go back a few years. when — currently? if you go back a few years. when mr _ currently? if you go back a few years, when mr corbin - currently? if you go back a few years, when mr corbin was - years, when mr corbin was running the labour party, it

was clearly an environment in which the labour party was pretty antipathetic to our business and we now see a situation which probably has not happened since tony blair when you have both the conservative and labour party explicitly recognising the importance of business in getting growth going and creating the wealth and then deliver the public services so from that point of view, it is actually in a pretty good place. actually in a pretty good lace. , ,, , place. rupert soames president ofthe place. rupert soames president of the cbi talking _ place. rupert soames president of the cbi talking to _ place. rupert soames president of the cbi talking to us. - place. rupert soames president of the cbi talking to us. asian . of the cbi talking to us. asian markets fairly firm if not a little negative. a lot of chatter and speculation about what china may do, the regulators may announce, to help boost stock markets in mainland china. of course, that is the us and lots of stories

for investors to digests. hello there. the weather is changing, its getting colder and that's going to bring the risk of some snow to some parts of the country. now, on tuesday, the temperatures were 1a degrees in surrey, ahead of that weather front, which is taking rain down into the english channel. and following on from that, we've got the colder air moving down from the north. and we've seen some wintry showers falling in scotland. could well be a covering of snow in many places here, particularly in the northwest. but there's a danger there may well be some snow falling in the central belt of scotland early in the morning, too. now, increasingly, those wintry showers will become confined to northern scotland. the rest of scotland seeing sunny spells developing. so too northern ireland, and for much of england and wales, although in the south it still could be quite cloudy. still a bit of rain through the english channel, not far away from the south coast of england. here, it's going to be colder than it was on tuesday, but it's going to be much less windy. typical temperatures are going to be six or seven degrees. so a chillier day. and into that colder air, that weather front that's in the channel is going to get swept

northwards by this big area of low pressure that's moving into the colder air. and that's going to give us the risk of some snow. and these are the temperatures we've got first thing on thursday morning. so, frosty start, particularly in scotland and northern parts of england. in the south, it's a little milder. we're going to have rain across southern parts of england and wales heading into the midlands, but as that weather moves northwards into that colder block of air, so we're going to find some sleet and snow falling as well. now, we still have this yellow warning out from the met office. the area has changed a bit, so we're seeing snow less likely in the midlands. there's snow extending into northern ireland. while there be some snow to low levels, it's mainly over the hills, with significant falls over the higher hills, which will bring some disruption. we've still got that snow continuing into the evening across northern england, northern ireland, and heading into southern most parts of scotland. another band of wet weather coming into the south of england before midnight. and low pressure is going to spin its way across the uk to end the week, and that's going to bring

this mixture of rain, sleet and snow. but we never remove that block of colder air in scotland. so we're going to find snow developing more widely away from the east coast. there'll be some more snow in the northern pennines for a while as well. cold easterly wind in scotland will keep temperatures four or five degrees at best. further south, it will be milder. we're more likely to have some rain, which could be on the heavy side.

good morning, welcome to breakfast with sally nugent and ben thompson. our headlines today. proposals to improve access to dentists are unveiled by the government but critics say it doesn't go far enough to solve the broken system. the new patient safety commissioner calls for families of children left disabled by an epilepsy drug and women injured by pelvic mesh implants to be awarded compensation. the prince of wales will return to public duties today for the first time since king charles' cancer diagnosis was revealed. it's the love story that has got everyone talking. preparations for one of the worlds biggest sporting spectacles are under way in las vegas, but will taylor swift make it on time? good morning. a colder day than

yesterday, starting off with some